Importing Gold into China and Hong Kong: Rules & Documents
Importing Gold into China and Hong Kong: Hong Kong and mainland China treat gold imports very differently.
Hong Kong is open. It’s a free port:
- no import duty
- no VAT or GST
- no import licencefor gold
You still need to:
- declarethe shipment to customs
- pass anti-money-laundering (AML) checks
- register with Hong Kong Customs as a dealer in precious metalsif you trade gold there at or above HK$120,000
Mainland China is tightly controlled:
- Gold bullion can’t be imported freely.Only importers holding a People’s Bank of China (PBOC) gold import licence can bring it in under general trade. These are mainly a small group of licensed commercial banks, plus a few approved companies.
- Standard gold barsimported this way must be sold through the Shanghai Gold Exchange (SGE).
- Gold dorécan come in only under processing trade, and the refined gold must then be re-exported.
What this means for African gold: a foreign seller can’t simply ship gold bars to a buyer in mainland China. The legal routes are:
- selling to a licensed importer
- trading through Hong Kong
- using the SGE International Board
China vs Hong Kong at a Glance
| Hong Kong | Mainland China | |
| Import licence for gold bullion | Not required | Required: PBOC Import and Export Licence for Gold and Gold Products, held by the importer |
| Who can import bullion | Any lawful business, subject to AML rules | Mainly PBOC-licensed banks and a few approved companies |
| Import duty on bullion | None | None |
| VAT on bullion at import | None (no VAT in Hong Kong) | None at import for bullion; VAT rules apply when gold is withdrawn from the SGE |
| Where bullion is traded | Over the counter, banks, the Chinese Gold & Silver Exchange Society, vaults | Must go through the Shanghai Gold Exchange (for standard gold under general trade) |
| Gold doré | Can be imported; refined or re-exported | Processing trade only; refined gold must be re-exported |
| Dealer registration | Required for dealers at or above HK$120,000 (Customs and Excise Department) | Licensing through the PBOC, customs and SGE membership |
| Ease for foreign sellers | High | Low: you must sell to a licensed importer |
Importing Gold into Hong Kong
Why Hong Kong is a major gold hub
Hong Kong is one of the world’s biggest gold trading and transit centres. It’s a key route for gold heading to mainland China and the rest of Asia. The government is actively building it into an international gold trading centre, with:
- more vault storageat the airport and with banks
- a government-owned precious metals central clearing system
- a Shanghai Gold Exchange-certified vaultin Hong Kong, which allows offshore delivery for SGE International Board contracts
Duties, taxes and licences
- Import duty:none on gold.
- VAT or GST:Hong Kong has none.
- Import licence:none for gold bullion.
- Declaration:imports and exports of goods must be declared to the Customs and Excise Department, usually through your logistics company or agent.
Dealer registration (DPMS regime)
Since 1 April 2023, anyone carrying on a business dealing in precious metals in Hong Kong must register with the Customs and Excise Department (C&ED) once their transactions reach HK$120,000 or more. This covers trading, refining and acting as an intermediary.
| Category | Who it’s for | AML duties |
| Category A | Dealers doing non-cash transactions of HK$120,000 or more | Registration |
| Category B | Dealers who also do cash transactions of HK$120,000 or more | Registration plus full AML supervision: customer due diligence, record-keeping and suspicious transaction reporting |
Points to note:
- Logistics companiesthat only import or export gold are not required to register.
- Non-Hong Kong dealerswith no place of business in Hong Kong can trade there on up to 60 days a year without registering. They must file a cash transaction report for large cash deals.
- Trading without registration is an offence,with fines and possible imprisonment.
Cash and travellers
- Hong Kong’s cross-border declaration for cash and bearer negotiable instrumentsapplies to amounts above HK$120,000. Gold bars aren’t in this category.
- Hong Kong has no import controls or dutyon gold carried by passengers.
- Mainland China does controlgold carried by travellers. Don’t assume gold bought in Hong Kong can be carried freely across the border.
Typical route for African gold into Hong Kong
- Legal exportfrom the African country, with the full export file. See our guide to legal requirements to buy gold bars from Africa.
- Secure air freightwith an insured logistics company to Hong Kong International Airport.
- Customs declarationand delivery to a secure vault.
- Assay and acceptanceby the buyer, bank or refiner. Expect full KYC and OECD due diligence on African-origin gold.
- Paymentby bank transfer or letter of credit, often only after assay.
Importing Gold into Mainland China
Who can import gold
Mainland China treats gold as a controlled commodity. Under general trade:
- Gold bullion and gold productsneed an Import and Export Licence for Gold and Gold Products issued by the People’s Bank of China (PBOC).
- Licences are held by a limited groupof mostly Chinese and a few foreign commercial banks, plus a few approved companies.
- Importers also need quotas.They apply for an import quota and a foreign exchange quota for shipments.
- Standard goldimported under general trade must first be sold through the Shanghai Gold Exchange.
For a foreign seller, this means:
- you can’t import gold into the mainland yourself
- your buyer must be a licensed importer,or must buy through one
- a “buyer” without a licencewho asks you to ship gold straight to them in mainland China is a red flag
Shanghai Gold Exchange (SGE) “standard gold”
Bullion imported for the SGE must meet its standard gold specifications:
| Fineness | Bar sizes |
| 99.99%, 99.95%, 99.9% or 99.5% | 50 g, 100 g, 1 kg, 3 kg and 12.5 kg (400 oz) |
Bars must also come from refiners the SGE accepts. Bars from small or unknown refiners may need re-refining before they can be traded. That adds cost and time.
Duties and VAT on gold imports into China
| Product | Import duty | Import VAT |
| Gold ore and concentrates | None | None |
| Gold bullion (standard and non-standard) | None | None |
| Legal tender gold coins | None | 13% |
| Gold jewellery | 0% from Free Trade Agreement partners; 8% from other places (including Hong Kong) | 13% |
VAT applies inside China, not at import. When gold is withdrawn from the SGE for jewellery, branded bars or other products, VAT applies under rules that changed in late 2025. Those changes raised costs for jewellers and for some investment bar buyers. They affect your buyer’s costs more than your import process.
Gold doré and processing trade
- Gold dorécan be imported only under processing trade. It’s refined in China, and the refined gold must be re-exported.
- Fabricatorscan import gold for processing with a tolling licence from the local PBOC branch.
Rules under review
China has published draft revisions to its gold import and export rules, aimed at simplifying administration and tightening customs supervision. Until new rules are final, the licence system above applies. Always confirm the current position with your buyer’s bank or importer.
The SGE International Board
The SGE International Board, based in the Shanghai Free Trade Zone, lets international members and clients trade gold contracts. Physical delivery is through bonded vaults in Shanghai and an SGE-certified vault in Hong Kong. This is the main way foreign institutions reach China’s gold market without a mainland import licence. It’s open to institutions, not one-off private shipments.
Documents for Shipping Gold From Africa to China or Hong Kong
| Document | Needed for |
| Seller’s export licence and export permit | Legal export from Africa |
| Certificate of origin | Customs and due diligence |
| Assay certificate and bar list | Purity, weight, serial numbers |
| Refining record (if the exporting country requires local refining) | Shows the gold was legally refined. See doré vs refined gold |
| Commercial invoice and packing list | Customs value; HS code 7108 |
| Air waybill and insurance certificate | Secure, insured carriage |
| Hong Kong import declaration | Hong Kong customs |
| PBOC import licence and quota (held by the importer) | Mainland China general trade |
| KYC and OECD due diligence file | Banks, refiners and the SGE. See OECD due diligence for gold |
Red Flags in China and Hong Kong Gold Deals
- The “buyer” claims to hold a PBOC licence but isn’t a bank.Check with the PBOC or the buyer’s bank.
- Requests to ship gold “personally”or by courier into mainland China. This can amount to smuggling.
- Stories that the gold is “held at Chinese customs”and needs fees to release it. This is a common scam.
- Pressure to accept undocumented doré or gold dustfor “processing in China”.
- Payment offered in cashin Hong Kong for large amounts, with no KYC.
- No assay before payment.
Smuggled or undocumented gold can be seized on either side, with criminal penalties. See gold export penalties and seizures in Africa.
Hong Kong or Mainland China: Which Route Should You Use?
| If you are… | Best route |
| A private or corporate buyer wanting physical bars | Hong Kong: no duty, no licence, secure vaults |
| A Chinese company wanting gold in the mainland | Buy through a PBOC-licensed bank or on the SGE |
| An international institution | SGE International Board or Hong Kong |
| A jeweller or fabricator in China | Licensed importer, SGE, or processing trade with a tolling licence |
| An African seller | Sell to Hong Kong buyers or vaults, or to licensed importers. Never ship directly to an unlicensed mainland buyer |
FAQs: Importing Gold into China and Hong Kong
Can I import gold into China? Only through a licensed route. Bullion imports under general trade need a PBOC licence, held mainly by approved banks and a few companies. Standard gold must then be sold on the Shanghai Gold Exchange.
Is there import duty on gold in China? Not on gold bullion or ore. Gold coins carry 13% import VAT, and gold jewellery carries import duty (0% from Free Trade Agreement partners, otherwise 8%) plus 13% VAT.
Is there import duty on gold in Hong Kong? No. Hong Kong is a free port with no duty and no VAT on gold, but imports must be declared and dealers must register.
Do I need a licence to import gold into Hong Kong? No import licence is needed. But if you deal in gold in Hong Kong at HK$120,000 or more, you must register with the Customs and Excise Department.
Can I sell African gold directly to a buyer in mainland China? Only if the buyer is a licensed importer, or buys through one. Otherwise, sell through Hong Kong or the SGE International Board.
What purity does the Shanghai Gold Exchange accept? Standard gold of 99.99%, 99.95%, 99.9% or 99.5% purity, in 50 g, 100 g, 1 kg, 3 kg or 12.5 kg bars, from refiners the SGE accepts.
Can I carry gold from Hong Kong into mainland China? Mainland customs controls gold carried by travellers. Check current limits and declare it, or you risk seizure.
What HS code is used for gold imports? Heading 7108: usually 7108.12 for unwrought gold bars, and 7108.13 for semi-manufactured gold.
Ship Gold Legally to Hong Kong or China
Buy Gold Bars Africa Ltd supplies refined gold bars exported legally from Uganda, with:
- an independent assay reportand refining record
- a certificate of originand export permit for each shipment
- insured shipping options to Hong Kong and other hubs
- the option to inspect the gold before you pay
Call or WhatsApp +256 707 585144, or contact us.
